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Consolidated Statements of Cash Flows
12 Months Ended
Dec. 31, 2018
USD ($)
Dec. 31, 2017
USD ($)
Dec. 31, 2016
USD ($)
Cash Flows from Operating Activities      
Net income $ 271,885,000 $ 176,042,000 $ 175,099,000
Adjustments to reconcile net income to net cash provided by operating activities:      
Reversal for credit losses (4,500,000) (2,500,000) (15,650,000)
Provision for losses on other real estate owned 691,000 176,000
Deferred tax provision 2,343,000 34,554,000 15,949,000
Depreciation and amortization 7,314,000 7,265,000 7,490,000
Net gains on sale and transfers of other real estate owned (1,187,000) (2,661,000) (546,000)
Net gains on sale of loans (285,000)
Proceeds from sale of loans 8,000,000 7,500,000 20,079,000
Originations of loans held for sale (12,665,000)
Loss on sales or disposal of fixed assets 107,000
Amortization of alternative energy partnerships, venture capital and other investments 40,871,000 4,572,000 28,897,000
Write-down on impaired securities 206,000
Gain on sales and calls of securities (22,000) (1,006,000) (5,104,000)
Other non-cash interest income (1,576,000) (1,740,000) (1,272,000)
Amortization of security premiums, net 3,018,000 2,945,000 6,371,000
Unrealized loss on equity securities 2,787,000
Stock based and stock issued to officers and directors compensation expense 7,974,000 5,734,000 4,963,000
Net change in accrued interest receivable and other assets (13,984,000) 25,747,000 13,478,000
Gain from acquisition (340,000) (5,628,000)
Net change in other liabilities 13,848,000 (2,641,000) (2,784,000)
Net cash provided by operating activities 336,538,000 248,874,000 234,402,000
Cash Flows from Investing Activities      
Decrease in interest bearing deposits 5,000,000
Purchase of investment securities available-for-sale (497,787,000) (339,814,000) (941,327,000)
Proceeds from maturity and call of investment securities available-for-sale 341,900,000 490,950,000 460,000,000
Proceeds from sale of investment securities available-for-sale 99,899,000 111,704,000 294,000
Purchase of mortgage-backed securities available-for-sale (267,760,000)
Proceeds from repayment and sale of mortgage-backed securities available-for-sale 105,873,000 71,645,000 758,271,000
Purchase of Federal Home Loan Bank stock (5,430,000) (8,160,000) (1,650,000)
Redemption of Federal Home Loan Bank stock 11,265,000 13,482,000 1,650,000
Redemption of Federal Reserve Bank stock 8,733,000
Net increase in loans (1,125,623,000) (963,858,000) (1,051,952,000)
Purchase of premises and equipment (6,670,000) (3,188,000) (3,523,000)
Proceeds from sales of premises and equipment 5,598,000 12,000
Proceeds from sales of other real estate owned 3,820,000 18,357,000 7,699,000
Increase in investment in affordable housing and alternative energy partnerships (66,574,000) (40,284,000) (82,966,000)
Acquisitions, net of cash acquired (1,392,000)
Net cash used in investing activities (1,134,327,000) (903,987,000) (853,492,000)
Cash Flows from Financing Activities      
Net increase in deposits 1,012,284,000 201,224,000 1,166,044,000
Net decrease in federal funds purchased and securities sold under agreements to repurchase (100,000,000) (250,000,000) (50,000,000)
Advances from Federal Home Loan Bank 5,130,000,000 4,823,000,000 3,555,000,000
Repayment of Federal Home Loan Bank borrowings (5,030,000,000) (4,773,000,000) (3,480,000,000)
Cash dividends (83,428,000) (69,888,000) (59,274,000)
Purchase of treasury stock (42,648,000) (54,441,000)
Proceeds from issuance of long-term debt and other borrowings 75,000,000
Repayment of long-term debt and other borrowings (23,040,000)
Proceeds from shares issued to Dividend Reinvestment Plan 2,822,000 2,528,000 2,277,000
Proceeds from exercise of stock options 838,000 1,094,000 7,661,000
Taxes paid related to net share settlement of RSUs (3,550,000) (5,128,000) (103,000)
Net cash provided by financing activities 863,278,000 4,830,000 1,087,164,000
Increase/(Decrease) in cash and cash equivalents 65,489,000 (650,283,000) 468,074,000
Cash and cash equivalents, beginning of the year 534,801,000 1,185,084,000 717,010,000
Cash and cash equivalents, end of the year 600,290,000 534,801,000 1,185,084,000
Supplemental disclosure of cash flow information      
Interest 116,524,000 81,069,000 81,793,000
Income taxes 65,866,000 76,709,000 38,671,000
Non-cash investing and financing activities:      
Net change in unrealized holding (loss)/gain on securities available-for-sale, net of tax (7,949,000) 485,000 3,886,000
Net change in unrealized gain on interest rate swaps designated as cash flow hedges 1,525,000 719,000 825,000
Transfers to other real estate owned from loans held for investment 5,476,000 1,243,000 2,698,000
Loans transferred to loans held for sale 8,000,000 7,953,000
Loans to facilitate the sale of other real estate owned 10,500,000 2,616,000
Issuance of stock related to acquisition 34,862,000
Business Acquired During the Period [Member]      
Supplemental disclosure for acquisitions      
Cash and cash equivalents 283,932,000
Short-term investments 5,000,000
Securities available-for-sale 88,044,000
FHLB and FRB stock 19,890,000
Loans 705,792,000
Premises and equipment 6,239,000
Cash surrender value of life insurance 46,083,000
Deferred tax assets, net 40,690,000
Core deposit intangible 6,122,000
Accrued interest receivable and other assets 10,689,000
Total assets acquired 1,212,481,000
Deposits 813,888,000
Advances from Federal Home Loan Bank 30,000,000
Accrued interest payable and other liabilities 8,512,000
Total liabilities assumed 852,400,000
Net assets acquired 360,081,000
Cash paid 285,324,000
Fair value of common stock issued 34,862,000
Total consideration paid $ 320,186,000